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Colorado Legislation Would Create ‘Transit Centers,’ ‘Neighborhood Centers’ with Extra LIHTC Allocation

Thursday, February 22, 2024 - 1:10PM

A bill introduced this week in the Colorado House of Representatives would establish a “transit-oriented community” as a category of local government and allow an extra allocation of low-income housing tax credits (LIHTC) to qualified developments within those communities. H.B. 1313 would define transit-oriented communities as entirely within a metropolitan organization, with a population of 4,000 or more and containing at least 75 acres of certain transit-related areas. Areas within those communities can be defined as transit centers or neighborhood centers, which require certain density and affordability requirements. The bill would allow the state to allocate up to an additional $30 million in LIHTCs annually to transit centers or neighborhood centers for calendar years 2024-2031.

The interaction of state and federal LIHTCs is a topic for the Novogradac 2024 Affordable Housing Conference, May 2-3 in San Francisco.

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